Finance for non-finance managers is here!

Finance for non-finance managers can be stressful. Sometimes, you just want to skip through all the jargon and ask your Finance Director or Accounts Team one thing: “How much did we make?”

finance for non-finance managers

Yet, learning what goes on behind the numbers is just as important as the big number itself. Find a course that teaches finance for non-finance managers and you will understand the basics of finance. This will help you learn to ask the right questions and much more feel confident with financial concepts.

Our finance for non-finance managers course is called Colour Accounting™. It breaks down the key elements of finance, shows you how finance  ‘moves’ around your financial statements and leaves you with a keen grasp of how it all works together.

Here is some good finance for non-finance manager’s questions you can ask. Next time you sit down you sit down with the people responsible for your financial reporting, ask these three questions. They will see straight away that you’re a little more clued-up than they thought.

What steps can we take to improve our Cash Flow ?

Cash flow is often considered even more important than profit. This is because profit can be manipulated in so many ways, while cash cannot. In fact, profitable businesses go bankrupt all the time, simply because they can’t turn their assets into cash when it matters. On a Colour Accounting™ course you will learn where the money is in your organisation.

There are many ways to improve cash flow, as it’s influenced by many different factors, including:

  • Methods of financing.
  • Debt collection.
  • Dividend policies.
  • Supplier agreements.

Almost every transaction a business makes influences its cash flow in some way. With this one tip finance for non-finance managers just became easier.

 Is the current funding of the business right?

Lately it has become tougher to acquire funding. Banks have been more cautious, interest rates have been choppy and investors have been waiting anxiously amongst unstable markets.

If there’s room for improvement, your Finance Director will be the one to ask.

 What is the Finance team doing to drive the business forward?

A key learning in finance for a non-finance manager is to plan. Accounting and Finance staff are almost always guilty of one thing: looking back instead of looking forward.

It happens because financial information tends to be historical. After all, we can’t tell you the annual profit until the year is actually over! An increasingly important part of finance is learning to look forward. Instead of just analysing current numbers, ask your FD ‘what is being done to improve future results?’

  • Are new suppliers being sourced or new systems being researched?
  • Are we looking at new pricing strategies to improve our gross profit?
  • What changes are being made on the basis of last year’s results?

With their in depth knowledge of your business’s finances, your FD is the ideal person to ask.

Colour Accounting™ is our finance for non-finance managers course. In just 1 day you can have the confidence and competence to work with your finance experts.

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